$ALK
ALASKA AIR GROUP, INC.

2022 Q3 Form 10-Q Financial Statement

#000076642122000062 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $2.828B $2.658B $1.681B
YoY Change 44.8% 74.07% 110.92%
Cost Of Revenue $1.394B $1.271B $854.0M
YoY Change 72.1% 79.52% 47.5%
Gross Profit $1.434B $1.387B $827.0M
YoY Change 25.46% 69.35% 279.36%
Gross Profit Margin 50.71% 52.18% 49.2%
Selling, General & Admin $816.0M $773.0M $700.0M
YoY Change 21.97% 32.14% 25.22%
% of Gross Profit 56.9% 55.73% 84.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.0M $104.0M $102.0M
YoY Change 5.05% 6.12% 5.15%
% of Gross Profit 7.25% 7.5% 12.33%
Operating Expenses $1.127B $2.471B $1.883B
YoY Change -33.51% 152.66% 96.56%
Operating Profit $307.0M $187.0M -$202.0M
YoY Change 18.99% -65.94% 25.47%
Interest Expense -$11.00M -$12.00M -$18.00M
YoY Change -47.62% -130.77% -156.25%
% of Operating Profit -3.58% -6.42%
Other Income/Expense, Net $14.00M -$2.000M -$4.000M
YoY Change -207.69% -90.48% -66.67%
Pretax Income $65.00M $185.0M -$206.0M
YoY Change -73.47% -64.96% 19.08%
Income Tax $25.00M $46.00M -$63.00M
% Of Pretax Income 38.46% 24.86%
Net Earnings $40.00M $139.0M -$143.0M
YoY Change -79.38% -64.99% 9.16%
Net Earnings / Revenue 1.41% 5.23% -8.51%
Basic Earnings Per Share $0.32 $1.10 -$1.14
Diluted Earnings Per Share $311.6K $1.09 -$1.14
COMMON SHARES
Basic Shares Outstanding 126.8M shares 126.5M shares 126.0M shares
Diluted Shares Outstanding 128.4M shares 127.8M shares 126.0M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.150B $3.425B $2.890B
YoY Change -1.41% -13.31% -18.57%
Cash & Equivalents $688.0M $778.0M $628.0M
Short-Term Investments $2.462B $2.647B $2.262B
Other Short-Term Assets $221.0M $313.0M $348.0M
YoY Change 6.25% 55.72% 116.15%
Inventory $94.00M $93.00M $78.00M
Prepaid Expenses
Receivables $345.0M $401.0M $658.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.810B $4.232B $3.974B
YoY Change -4.77% -11.3% -7.24%
LONG-TERM ASSETS
Property, Plant & Equipment $8.259B $6.471B $6.242B
YoY Change 34.95% 5.6% 1.6%
Goodwill $2.040B $2.041B $2.042B
YoY Change 4.99% 5.04% 5.1%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $422.0M $387.0M $411.0M
YoY Change 21.97% 15.18% 13.22%
Total Long-Term Assets $10.72B $10.57B $10.24B
YoY Change 8.5% 6.91% 2.59%
TOTAL ASSETS
Total Short-Term Assets $3.810B $4.232B $3.974B
Total Long-Term Assets $10.72B $10.57B $10.24B
Total Assets $14.53B $14.80B $14.21B
YoY Change 4.68% 0.98% -0.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $202.0M $286.0M $299.0M
YoY Change 11.6% 79.87% 124.81%
Accrued Expenses $1.651B $794.0M $659.0M
YoY Change 173.8% 20.12% 21.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $321.0M $342.0M $292.0M
YoY Change -24.47% -60.64% -76.57%
Total Short-Term Liabilities $4.709B $4.902B $4.570B
YoY Change 17.02% 1.16% -4.03%
LONG-TERM LIABILITIES
Long-Term Debt $1.889B $1.961B $2.078B
YoY Change -15.1% -15.44% -10.62%
Other Long-Term Liabilities $3.536B $353.0M $363.0M
YoY Change 804.35% -16.35% -24.69%
Total Long-Term Liabilities $5.425B $2.314B $2.441B
YoY Change 107.38% -15.58% -13.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.709B $4.902B $4.570B
Total Long-Term Liabilities $5.425B $2.314B $2.441B
Total Liabilities $10.71B $7.216B $7.011B
YoY Change 61.22% -4.89% -7.37%
SHAREHOLDERS EQUITY
Retained Earnings $4.278B $4.238B $4.099B
YoY Change 1.28% 5.16% 12.83%
Common Stock $550.0M $543.0M $504.0M
YoY Change 18.79% 19.34% 22.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $674.0M $674.0M $674.0M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 9.350M shares 9.350M shares 9.350M shares
Shareholders Equity $3.826B $3.799B $3.637B
YoY Change
Total Liabilities & Shareholders Equity $14.53B $14.80B $14.21B
YoY Change 4.68% 0.98% -0.36%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $40.00M $139.0M -$143.0M
YoY Change -79.38% -64.99% 9.16%
Depreciation, Depletion And Amortization $104.0M $104.0M $102.0M
YoY Change 5.05% 6.12% 5.15%
Cash From Operating Activities $174.0M $948.0M $287.0M
YoY Change -264.15% 12.86% 71.86%
INVESTING ACTIVITIES
Capital Expenditures -$313.0M -$345.0M $288.0M
YoY Change 240.22% 360.0% 966.67%
Acquisitions
YoY Change
Other Investing Activities $146.0M -$415.0M $1.000M
YoY Change -33.33% -8.19% -80.0%
Cash From Investing Activities -$167.0M -$760.0M $39.00M
YoY Change -231.5% 44.21% -107.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $170.0M
YoY Change 47.83%
Cash From Financing Activities -90.00M -38.00M -$168.0M
YoY Change -83.46% -89.53% -304.88%
NET CHANGE
Cash From Operating Activities 174.0M 948.0M $287.0M
Cash From Investing Activities -167.0M -760.0M $39.00M
Cash From Financing Activities -90.00M -38.00M -$168.0M
Net Change In Cash -83.00M 150.0M $158.0M
YoY Change -84.13% -400.0% -153.74%
FREE CASH FLOW
Cash From Operating Activities $174.0M $948.0M $287.0M
Capital Expenditures -$313.0M -$345.0M $288.0M
Free Cash Flow $487.0M $1.293B -$1.000M
YoY Change -3578.57% 41.31% -100.71%

Facts In Submission

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dei Document Period End Date
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ALASKA AIR GROUP, INC.
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1527000000 usd
CY2021Q2 alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
704000000 usd
CY2021Q2 us-gaap Fuel Costs
FuelCosts
274000000 usd
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
978000000 usd
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-21000000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
528000000 usd
CY2021Q2 alk Pretax Margin Adjusted
PretaxMarginAdjusted
-0.031
CY2021Q2 alk Pretax Margin Gaap
PretaxMarginGAAP
0.346
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4339000000 usd
alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
3231000000 usd
us-gaap Fuel Costs
FuelCosts
1123000000 usd
us-gaap Operating Expenses
OperatingExpenses
4354000000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-21000000 usd
alk Pretax Margin Adjusted
PretaxMarginAdjusted
0.031
alk Pretax Margin Gaap
PretaxMarginGAAP
-0.005
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2324000000 usd
alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
1459000000 usd
us-gaap Fuel Costs
FuelCosts
477000000 usd
us-gaap Operating Expenses
OperatingExpenses
1936000000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-33000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
355000000 usd
alk Pretax Margin Adjusted
PretaxMarginAdjusted
-0.269
alk Pretax Margin Gaap
PretaxMarginGAAP
0.153
CY2022Q2 us-gaap Assets
Assets
14800000000 usd
CY2021Q4 us-gaap Assets
Assets
13951000000 usd

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